Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Await Judge’s Ruling as Boy Scouts Bankruptcy Hearings End
Aug 19 2021 // A year and a half after the Boy Scouts of America sought bankruptcy protection amid an onslaught of child sex abuse lawsuits, a Delaware judge is poised to issue a ruling that could determine whether the organization might...
Ratings Changes for P/C Insurers Up Moderately, Says AM Best
Aug 18 2021 // The number of credit rating upgrades and downgrades in the U.S. property/casualty (P/C) insurance industry increased in the first half of 2021 moderately over the same prior-year period, according to an AM Best special...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 16 2021 // A federal appellate court ruling that dismissed a dental practice’s COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of government shutdowns...
Insurers Expect COVID-19 Liability Claims Against Employers as Employees Return
Aug 16 2021 // Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to their desks after 18 months of...
Hearings Get Underway Into Boy Scouts Bankruptcy Plan Opposed by Insurers
Aug 13 2021 // An attorney for the Boy Scouts of America told a Delaware judge on Thursday that the group’s national board never adopted a resolution approving an $850 million agreement that is the linchpin of the Boy Scouts’...
German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies
Aug 12 2021 // Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s...
What Property and Casualty Insurers Need to Know About Using Credit in Underwriting
Aug 10 2021 // This post is part of a series sponsored by TransUnion. Credit-based insurance risk scores draw from credit data to more accurately assess consumer risk and improve the underwriting process Today, credit-based insurance...
AM Best Downgrades Credit Ratings for Kingstone Insurance Company
Aug 10 2021 // AM Best has downgraded the financial strength rating to B+ from B++ and the long-term issuer credit rating to “bbb-” from “bbb” for Kingstone Insurance Company (KICO) of Kingston, New...
Insurers: Washington Commissioner’s ‘Rushed’ Regulatory Process Will Hurt Policyholders
Aug 9 2021 // The American Property Casualty Insurance Association submitted comments in opposition to stakeholder draft regulations which will make Washington Commissioner Mike Kreidler’s emergency regulations banning the use of...
Insurers Expect COVID-19 Liability Claims Against Employers as Employees Return
Aug 6 2021 // Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to their desks after 18 months of...
U.S. West Consumer Survey: 4-in-10 Policyholders Don’t Talk to Insurer About Wildfire Risks
Aug 5 2021 // Most residents of the wildfire-plagued Western U.S. believe in mitigation efforts, but fewer are actually taking such steps – while more than 40% have never spoken to their insurer about wildfire risk, according to a...
Naspers Invests in Online Insurer Naked as Part of South African Investment Push
Aug 5 2021 // Naspers Ltd. is backing online insurance company Naked as part of a commitment to invest almost $100 million in tech startups in its home market of South Africa. The 120 million-rand ($8.4 million) stake makes Naspers the...
Investors Complete Acquisition of Specialty Insurer ProSight Under Plan to Go Private
Aug 4 2021 // Investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital Management said they have completed the acquisition of ProSight Global, Inc., a New Jersey-based domestic specialty...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 4 2021 // A federal appellate court ruling that dismissed a dental practice’s COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of government shutdowns...
How Homeowners Insurers Can Prepare for the Cannabis Era
Aug 2 2021 // Talk about a growth market. Since Colorado and Washington became the first to pass state laws designed to legalize certain sale and consumption of recreational cannabis in their respective states in 2012, 15 other states...
Judge: Assertion of Virus’ Presence a Reason for Case Against Ohio Insurer to Proceed
Aug 2 2021 // A gym and fitness center in Pennsylvania won a minor victory on July 13 in a dispute with an Ohio-based commercial property insurer over business interruption coverage claims stemming from closures caused by the COVID-19...
DFS Issues New Report on Insurers’ Management of Climate Change Risks
Jul 30 2021 // The New York State Department of Financial Services (DFS) has issued a report analyzing New York domestic insurers’ management of the financial risks from climate change based on their 2020 responses to the National...
Ireland to Introduce Laws to Make Insurers, Bankers Accountable for Corporate Failings
Jul 30 2021 // DUBLIN – Ireland will introduce long-anticipated laws to make senior bankers and executives in other financial sectors directly accountable for failings at institutions over the next 12 to 18 months, Finance Minister...
China Regulator Urges Insurers to Expand Natural Disaster Coverage
Jul 29 2021 // BEIJING – China’s banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings. It also plans to raise public...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
Jul 29 2021 // Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an...
